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Fidelity in white-label talks with banks

Fidelity is in talks with high-street banks about white-labelling funds as it looks to take advantage of depolarisation distribution opportunities.

It has told banks it could run funds and allow access to in-house
investment expertise.

Fidelity, which has 14.9bn in UK retail assets under
management, has signed a deal with HSBC to be one of its five best of
breed fund managers. It believes banks will expand the marketplace
and pose a distribution threat to IFAs targeting lower-income clients.

HSBC has put together a multi-tied investment panel while other banks
have formed investment ties with life companies – Barclays with Legal
& General and Royal Bank of Scotland with Norwich Union – which
will offer fund choice through the life office.

Fidelity has widened its DC pension product to include group stakeholder.

Head of UK distribution Michael Jones says: “We would have to view
it case by case. It depends on whether we would bring strength to
their brand or they would bring strength to ours. Bank distribution
will grow. It has had a number of false starts but depolarisation
will be a catalyst. High-street banks will add a new dimension to


LIA’s view

This is the last article I shall write for Money Marketing before the Personal Finance Society comes into being on January 1. It is an interesting time of transition for both the LIA (32 years old) and Sofa (12 years old).


CML says Hips are nowhere near readyThe CML says home information packs are nowhere near ready for implementation and is calling on the Government to undertake a realistic assessment of the cost of Hips. The Government expects Hips to be available from January 2007.

Farrow’s view

New products are coming that claim to beat deposit rates but they also have a high bafflement factor.

Guide cover

Guide: how to… communicate with your pension members

Effective communication of your pension scheme is a large part of getting auto-enrolment right. Delivering the same message to all employees is not necessarily the way to go. To assist you with the communication of your pension scheme, we have provided some key areas to think about, such as:

  • What to consider when segmenting your workforce
  • How to communicate to pension scheme members at the right time in their member lifecycle
  • What topics you should be discussing with your pension members
  • The new pension freedoms and the importance of communicating them


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